Intercontinental Exchange Plans Stock Split; Authorizes $1 Bln Share Buyback

(RTTNews) - Intercontinental Exchange (ICE) announced its Board has approved pursuing an effective 5-for-1 stock split of the company's common stock that will be distributed in the form of a four share stock dividend per share. The ICE Board authorized $1 billion for future stock repurchases.

For the second-quarter, the company reported adjusted earnings per share attributable to ICE of $3.43 compared to $2.90, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $3.38 for the quarter. Analysts' estimates typically exclude special items.

Second quarter 2016 consolidated revenues, less transaction-based expenses, were $1.13 billion, including $265 million in revenues from Interactive Data and Trayport. Analysts expected revenue of $1.12 billion, for the quarter.

ICE also announced its third quarter dividend of $0.85 per share, which is payable on September 30, 2016 to holders as of September 16, and an ex-dividend date of September 14.